Bankruptcy & Restructuring News Headlines for Friday Jun 17, 2022

Here's what we are reading this morning:

Instant delivery service Jokr winds down U.S. delivery operations: In an email sent to vendors and obtained by Modern Retail, the company notified brand partners of the “incredibly difficult decision we’ve made at Jokr,” to shutter its U.S. delivery operations in Boston and New York City.

State securities regulators investigating Celsius accounts freeze: State securities regulators in Alabama, Kentucky, New Jersey, Texas and Washington are investigating crypto lender Celsius Network’s decision this week to suspend customer redemptions.

Crypto hedge fund Three Arrows fails to meet lender margin calls | Financial Times: BlockFi was among a clutch of firms that liquidated the Singapore-based group’s positions

Celsius Investors Unlikely to Provide More Funds to Bail Out Crypto Lender - WSJ: A private-equity firm and a Canadian pension fund that last year led a $750 million funding round in Celsius aren’t expected to put in more money, said people with knowledge of the situation.

Digital-Health Startups Lay Off Employees After Record Funding Years: Digital-health startups that saw explosive growth in 2021 are scrambling to adapt to this year's unstable market by cutting their workforce.

Feds signal more water reductions from Colorado River amid drought | Bond Buyer: More big cuts will be needed to keep supplies from reaching perilously low levels, the Bureau of Reclamation's leader told a Senate committee this week.

Water crisis: Feds warn Lake Mead, Colorado River dangerously low: Nearly 25 million people in LA, San Diego and Phoenix rely on the lower Colorado River basin system.

Auraria Student Lofts Files for Bankruptcy Protection | Westword: Auraria Student Lofts, maligned by tenants and subject to numerous Orders to Comply from the Denver Fire Department, filed for Chapter 11 bankruptcy on June 9, less than an hour before the property was set to be auctioned off in a foreclosure sale.

Older Post Newer Post